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Use this guide to determine if you are ready to begin a new
venture in China.

1. Do you have a product that has a current and growing
demand in the China market?

One way to evaluate potential demand for your technology, product
or service is to determine if it fits with China’s current
development plans, including its government supported 5
Year Plan for economic development. The timing and relevancy of
your product is important. Entering the market when there is
government supported demand for your product will increase the
likelihood of your success.

2. Do you have the resources, both in terms of financial
and human capital to invest in an effort abroad?

Expanding your business internationally can be a source of huge
growth. But, it comes with a necessary upfront investment.
Having the capital to begin an operation in a new place is
one component. In addition, having capable people with time
to devote to the initiative is equally important. Be sure
to designate specific people as the key players in your move to
China.

3. Do you have the capacity to sustain an ongoing
initiative abroad?

Closely related to the point made just above, does your company
have the capability to have a staff member be the contact
point between your home office and your China office? Developing
a clear channel of communication between your operations in China
and your home office is crucial to your success in China.

4. Do you have the proper partner or team in
China?

Having the right people working with you in China can set you up
for success. This team can be formed in any number of
arrangements, whether it be a joint venture with a Chinese firm,
an office with qualified staff , or a consultant hired to assist
you. Having support from those experienced in the market will be
a huge advantage to your company. As is any new market,
China poses unique challenges which can be abated by enlisting
the assistance of specialists.

5. Do you have the flexibility and willingness to adapt
to working in another culture?

Having the right attitude and understanding that business might
be done in different ways internationally is important to keep in
mind. When doing business in China, expect to encounter
differences in human resources, government policies, and the
legal system as well as the language. Being open to learning
local values, customs and maybe even a few Chinese phrases will
make your transition to the Chinese market far smoother.

If you answered yes to several of the questions above, entering
China’s growing market could still be for you. It is
important to be fully prepared before you make the move, so
continue to ask yourself the questions listed above and determine
what you still need to do before you are ready for business in
China. As you take the time to make further preparations,
take a look at “The
5 Biggest Challenges Businesses Face When They Expand To
China” and “”
to give you more information about how to approach sales and
marketing in China.

By Anthony Goh and Sarah Burnham. Mr. Goh is President and
Ms. Burnham is Business Development and Communications Associate
at US-Pacific Rim International,
Inc.(www.us-pacific-rim.net)